Folger Nolan Fleming Douglas Capital Management Inc. Purchases 116,965 Shares of ExxonMobil Corporation $XOM

Key Points

• Folger Nolan Fleming Douglas Capital Management boosted its ExxonMobil stake by 144.2% in the first quarter, buying 116,965 additional shares and bringing its total holding to 198,084 shares worth about $33.6 million.
• ExxonMobil reported better-than-expected quarterly results, posting earnings of $1.16 per share versus the $0.98 consensus and revenue of $83.16 billion, while also maintaining a quarterly dividend of $1.03 per share.
• Wall Street remains broadly positive on XOM, with analysts assigning a Moderate Buy consensus rating and an average price target of $164.70, despite some mixed target adjustments.

Folger Nolan Fleming Douglas Capital Management Inc. lifted its position in ExxonMobil Corporation (NYSE:XOM - Free Report) by 144.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 198,084 shares of the oil and gas company's stock after purchasing an additional 116,965 shares during the period. ExxonMobil comprises about 3.0% of Folger Nolan Fleming Douglas Capital Management Inc.'s portfolio, making the stock its 8th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in ExxonMobil were worth $33,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in ExxonMobil in the fourth quarter valued at $7,625,063,000. Franklin Resources Inc. grew its position in shares of ExxonMobil by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 38,728,643 shares of the oil and gas company's stock valued at $4,366,655,000 after acquiring an additional 2,660,910 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of ExxonMobil by 218.4% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 1,380,899 shares of the oil and gas company's stock valued at $155,696,000 after acquiring an additional 2,546,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of ExxonMobil by 18.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,997,332 shares of the oil and gas company's stock valued at $1,925,119,000 after purchasing an additional 2,465,410 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in ExxonMobil by 334.4% in the 4th quarter. Van ECK Associates Corp now owns 3,062,497 shares of the oil and gas company's stock worth $368,541,000 after purchasing an additional 2,357,467 shares during the period. Institutional investors and hedge funds own 61.80% of the company's stock.

ExxonMobil Trading Down 0.0%

XOM stock opened at $137.03 on Friday. ExxonMobil Corporation has a 12-month low of $105.53 and a 12-month high of $176.41. The business's 50-day moving average is $147.37 and its 200 day moving average is $144.60. The company has a current ratio of 1.04, a quick ratio of 0.77 and a debt-to-equity ratio of 0.13. The stock has a market cap of $567.99 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.58 and a beta of 0.17.

ExxonMobil (NYSE:XOM - Get Free Report) last announced its earnings results on Friday, May 1st. The oil and gas company reported $1.16 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.18. The business had revenue of $83.16 billion during the quarter, compared to analysts' expectations of $81.13 billion. ExxonMobil had a return on equity of 10.24% and a net margin of 7.57%.The business's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.76 earnings per share. On average, sell-side analysts anticipate that ExxonMobil Corporation will post 11.9 EPS for the current fiscal year.

ExxonMobil Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 15th were paid a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, May 15th. ExxonMobil's dividend payout ratio is currently 69.48%.

Key Stories Impacting ExxonMobil

Here are the key news stories impacting ExxonMobil this week:

• Positive Sentiment: ExxonMobil and QatarEnergy reached a key milestone in their Cyprus offshore gas project, with a Declaration of Marketability helping advance the Glaucus and Pegasus fields toward development. That supports Exxon’s long-term growth pipeline. XOM, QatarEnergy Reach Milestone in Cyprus Offshore Gas Development
• Positive Sentiment: TD Cowen kept a buy rating on ExxonMobil while lowering its price target to $155 from $172, which still implies upside from current levels and suggests Wall Street remains constructive on the stock.
• Positive Sentiment: A Seeking Alpha piece upgraded ExxonMobil, arguing the valuation is attractive and that the company has overlooked market opportunities. That reinforces the view that XOM may have room to rerate. ExxonMobil: I'm Re-Entering As Valuation Is Attractive With Overlooked Market Opportunities (Rating Upgrade)
• Neutral Sentiment: Exxon completed its legal redomicile from New Jersey to Texas and also won a Supreme Court ruling that revives an old lawsuit, removing some uncertainty but not directly changing the operating outlook. Exxon (XOM) flashes key signals on New Jersey exit
• Neutral Sentiment: Analyst and media coverage noted that Exxon can still grow production even with oil below $70, and a bullish market note said the company could outperform if cash flow remains strong. These are supportive but largely restate Exxon’s resilience. Can ExxonMobil's Upstream Business Thrive With Oil Below $70?
• Negative Sentiment: President Trump is pressuring Big Oil to lower gasoline prices ahead of the midterm elections, which could increase political scrutiny on ExxonMobil and the broader sector if margin pressure follows. Big Oil heads for biggest profits in years as Trump pushes for lower gas prices

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on XOM shares. Piper Sandler lowered their price target on ExxonMobil from $186.00 to $182.00 and set an "overweight" rating on the stock in a research report on Thursday, April 9th. Citigroup upped their target price on ExxonMobil from $150.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, April 2nd. Morgan Stanley decreased their target price on ExxonMobil from $171.00 to $168.00 and set an "overweight" rating on the stock in a research report on Monday, June 29th. Mizuho lifted their price target on shares of ExxonMobil from $159.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, May 27th. Finally, Bank of America raised shares of ExxonMobil from a "neutral" rating to a "buy" rating and set a $154.00 price target for the company in a report on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, ExxonMobil currently has an average rating of "Moderate Buy" and a consensus target price of $164.70.

ExxonMobil Company Profile

ExxonMobil Corporation NYSE: XOM is an integrated oil and gas company engaged in the exploration, production, refining, distribution and marketing of petroleum products and the manufacture and sale of petrochemicals. Its operations span the full energy value chain, including upstream exploration and development of crude oil and natural gas; midstream transportation and storage; and downstream refining, product distribution and retail. The company also produces a broad range of chemical products for industrial and consumer applications.

ExxonMobil markets fuels and lubricants under well-known brands such as Exxon, Mobil and Esso, and its Mobil 1 motor oil is a prominent consumer product.

Want to see what other hedge funds are holding XOM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ExxonMobil Corporation (NYSE:XOM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.